What does the EU Broker Spread Index measure?

The index ranks every broker in our database by total EUR/USD trading cost on their cheapest account type. Total cost = spread (in pips, valued at $10 per pip on a standard lot) + round-turn commission. This all-in figure makes spread-only and raw-spread + commission brokers directly comparable.

How often is the index updated?

Monthly. Each edition is published by the 15th of the month and covers the advertised spread and commission data verified during the preceding 30 days. Past editions are archived at permanent URLs for longitudinal comparison.

Are these live spreads or advertised spreads?

The index uses each broker's officially published spread for their cheapest account type during liquid London/NY sessions. These are advertised minimums or typicals, not real-time measurements. For live-account measurements, see our Spread Study page.

Why do some brokers show $0.00 commission but still rank below zero-commission brokers?

Because their spread is wider. A broker advertising 1.0 pip spread with no commission has an all-in cost of $10.00 per lot. A broker with 0.0 pip spread and $7.00 round-turn commission costs only $7.00 per lot. The index captures this trade-off.

Which broker is the cheapest for EU traders?

The current index leader is shown at the top of the table. Rankings change monthly as brokers adjust pricing. Download the CSV for the full dataset.

Can I cite this index in my research or publication?

Yes. The index is published under CC BY 4.0. Use the citation block at the bottom of the page for the recommended attribution format. Link to the specific edition URL for reproducibility.

Why are some brokers marked as not EU-eligible?

Brokers without an EU/EEA-licensed entity cannot onboard EU retail clients. They appear in the index for completeness and comparison, but are flagged in the EU column. EU traders cannot open accounts with them.

How does the Spread Index differ from the Execution Index (EBEI)?

The Spread Index measures cost (spread + commission). The EBEI measures execution quality (spread consistency, uptime, slippage, regulatory standing). A broker can be cheap but have poor execution, or expensive but reliable. Together they give a complete cost-quality picture.

Monthly Original Data

EU Broker Spread Index

Name: EU Broker Spread Index — June 2026
Creator: fx-brokers.eu
Published: 2026-06-13
License: https://creativecommons.org/licenses/by/4.0/

June 2026 Edition

27brokers ranked by total EUR/USD trading cost. Spread + commission per standard lot, computed from each broker's cheapest account type during liquid sessions. Published monthly; methodology public; data downloadable.

Published: 2026-06-13Last verified: 2026-06-13Edition: 2026-06

Key Findings — June 2026

Cheapest All-In

$1.00/lot

XTB (Standard)

Median Cost

$6.00/lot

Middle of the field (27 brokers)

Most Expensive

$10.00/lot

eToro

EU Eligible

24/ 27

Can onboard EU/EEA retail clients

The spread between the cheapest and median broker is $5.00 per standard lot. On a 30-lot/month trader, that gap compounds to $1800per year — a meaningful drag on net returns that most retail traders overlook.

Markets Desk

Markets desk

The Markets Desk byline covers broker analysis, EU regulation, trading-cost analysis, and risk management. Research is conducted by qualified contribu...

Credentials

Editorial persona — FX-Brokers EU

Forex TradingBroker AnalysisEU RegulationRisk Management

Full Index — June 2026

Download CSV

#	Broker	Account	Spread	Commission (RT)	All-In / Lot	EU	Regulators
1	XTB	Standard	0.10pip	None	$1.00	Yes	KNF, FCA, CySEC	Review →
2	FXCM	Active Trader	0.20pip	None	$2.00+$1.00	Yes	FCA, ASIC	Review →
3	RoboForex	Prime, ECN	0.00pip	$4.00	$4.00+$3.00	Yes	FSC, CySEC	Review →
4	FXTM	ECN Zero	0.00pip	$4.00	$4.00+$3.00	Yes	CySEC, FCA, FSCA	Review →
5	Interactive Brokers	average with commission	0.10pip	$4.00	$5.00+$4.00	Yes	SEC, FCA, CBI +1	Review →
6	BlackBull MarketsPartner	ECN Prime	0.00pip	$6.00	$6.00+$5.00	No	FMA, FSA	Review →
7	Tickmill	Raw	0.00pip	$6.00	$6.00+$5.00	Yes	CySEC, FCA, FSA	Review →
8	Admirals	Zero	0.00pip	$6.00	$6.00+$5.00	Yes	CySEC, FCA, FSA	Review →
9	Vantage Markets	Raw ECN	0.00pip	$6.00	$6.00+$5.00	No	ASIC, CIMA, VFSC	Review →
10	XM	Ultra Low	0.60pip	None	$6.00+$5.00	Yes	CySEC, ASIC, IFSC	Review →
11	IG	Standard	0.60pip	None	$6.00+$5.00	Yes	BaFin, FCA, ASIC	Review →
12	Saxo Bank	Platinum	0.60pip	None	$6.00+$5.00	Yes	Danish FSA, FCA, ASIC	Review →
13	OANDA	Standard	0.60pip	None	$6.00+$5.00	Yes	FCA, ASIC, NFA	Review →
14	Capital.com	Standard	0.60pip	None	$6.00+$5.00	Yes	FCA, CySEC, ASIC	Review →
15	Swissquote	Elite	0.60pip	None	$6.00+$5.00	Yes	FINMA, FCA, SFC	Review →
16	PepperstonePartner	Razor	0.00pip	$7.00	$7.00+$6.00	Yes	BaFin, CySEC, FCA +1	Review →
17	Exness	Raw	0.00pip	$7.00	$7.00+$6.00	No	CySEC, FCA, FSA	Review →
18	FxPro	Raw+	0.00pip	$7.00	$7.00+$6.00	Yes	FCA, CySEC, FSCA	Review →
19	Axi	Pro	0.00pip	$7.00	$7.00+$6.00	Yes	FCA, ASIC, DFSA	Review →
20	Eightcap	Raw	0.00pip	$7.00	$7.00+$6.00	Yes	ASIC, FCA, CySEC	Review →
21	IC Markets	Raw Spread	0.00pip	$7.00	$7.00+$6.00	Yes	ASIC, CySEC, FSA	Review →
22	CMC Markets	Standard	0.70pip	None	$7.00+$6.00	Yes	BaFin, FCA, ASIC	Review →
23	Plus500	Standard	0.80pip	None	$8.00+$7.00	Yes	CySEC, FCA, ASIC	Review →
24	Trading 212	Standard	0.90pip	None	$9.00+$8.00	Yes	FCA, CySEC, FSC	Review →
25	AvaTrade	Standard	0.90pip	None	$9.00+$8.00	Yes	Central Bank of Ireland, CySEC, ASIC +2	Review →
26	Forex.com	Raw	0.00pip	$10.00	$10.00+$9.00	Yes	CySEC, FCA, NFA +1	Review →
27	eToro	Standard	1.00pip	None	$10.00+$9.00	Yes	CySEC, FCA, ASIC	Review →

Costs use $10/pip for EUR/USD on a standard lot (100,000 units). Commission normalised to round-turn. "Spread" is the lowest advertised figure for each broker's cheapest account type. Live spreads widen during illiquid sessions and news events. Last verified: 2026-06-13.

What the spread difference costs you per year

Small per-lot differences compound. The table shows the annual cost at three trading volumes for the top 15 brokers. The final column shows how much more you pay annually compared to the index leader.

Broker	All-In / Lot	10 lots/mo	30 lots/mo	100 lots/mo	Extra vs #1 (30/mo)
XTB	$1.00	$120	$360	$1200	$0
FXCM	$2.00	$240	$720	$2400	+$360
RoboForex	$4.00	$480	$1440	$4800	+$1080
FXTM	$4.00	$480	$1440	$4800	+$1080
Interactive Brokers	$5.00	$600	$1800	$6000	+$1440
BlackBull Markets	$6.00	$720	$2160	$7200	+$1800
Tickmill	$6.00	$720	$2160	$7200	+$1800
Admirals	$6.00	$720	$2160	$7200	+$1800
Vantage Markets	$6.00	$720	$2160	$7200	+$1800
XM	$6.00	$720	$2160	$7200	+$1800
IG	$6.00	$720	$2160	$7200	+$1800
Saxo Bank	$6.00	$720	$2160	$7200	+$1800
OANDA	$6.00	$720	$2160	$7200	+$1800
Capital.com	$6.00	$720	$2160	$7200	+$1800
Swissquote	$6.00	$720	$2160	$7200	+$1800

Top 15 by all-in cost shown. Full data available in the CSV download.

Where our partners rank

We earn affiliate commission from these brokers. Their placement in the index is determined by the same methodology applied to every broker — no preferential ranking.

Rank #6 of 27

BlackBull Markets

Spread

0.00 pip

Commission

$6.00

All-In

$6.00

Full review Visit broker

Rank #16 of 27

Pepperstone

Spread

0.00 pip

Commission

$7.00

All-In

$7.00

Full review Visit broker

Methodology

Data sources

Spread and commission figures are sourced from each broker's public-facing account-type pages. We record the lowest advertised EUR/USD spread and the associated commission structure for each broker's cheapest available account. Data is verified manually against the broker's website within 30 days of each edition's publication date.

Cost calculation

Total cost per standard lot = (spread in pips × $10) + round-turn commission. One pip on EUR/USD is worth $10 on a standard lot (100,000 units). Commission is normalised to round-turn: if a broker quotes "$3.50 per lot per side," we record $7.00 round-turn. Spread-only accounts have $0.00 commission.

Ranking rule

Brokers are sorted ascending by all-in cost. Ties are broken by raw spread (lower wins). EU eligibility does not affect ranking — non-EU-eligible brokers are included for completeness but flagged in the table.

Limitations

Advertised spreads are floors or typicals, not live measurements.
Some brokers offer volume-based commission discounts not captured in the headline rate.
Swap costs (overnight financing) and slippage are not included. See the Execution Index (EBEI) for execution quality.
The index covers EUR/USD only. Cross pairs and exotics have different characteristics.

Affiliate disclosure

fx-brokers.eu earns affiliate commission from some brokers in this index. Affiliate partnerships do not influence ranking. Partners are labelled in the table. See our editorial policy.

Cite this index

Published under CC BY 4.0. Attribution required; no permission needed.

fx-brokers.eu. "EU Broker Spread Index — June 2026." Published 2026-06-13. Available at: https://fx-brokers.eu/research/eu-broker-spread-index

For academic citation, link to the permanent edition URL. The canonical URL always points to the current edition.

Related research

Spread Leaderboard

Live-updating leaderboard of EUR/USD spreads across all brokers.

Execution Index (EBEI)

Monthly execution quality ranking: spreads, uptime, slippage, regulation.

Spread Study 2026

Live-account spread measurements across 5 trading days and 3 sessions.

Broker Safety Score

Transparent 0–100 safety rating across 7 weighted components.

Trading Cost Calculator

Calculate your exact annual cost across all brokers for your trading volume.

EU Regulation Map

30-jurisdiction regulator comparison with licence counts and compensation.

Frequently asked questions

Risk warning:CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The data in this index is for informational purposes only and does not constitute investment advice or a recommendation to trade with any specific broker. Past performance is not indicative of future results.